Bellway plc Reports Trading and Earnings Guidance for the Period from 1 February to 3 June 2018
June 12, 2018 at 02:00 am EDT
Bellway plc reported trading and earnings guidance for the period from 1 February to 3 June 2018. The Board expects completions for the year ending 31 July 2018 to exceed those achieved last year by around 600 units. This forecast volume growth, together with the previously reported rise in the average selling price, which is expected to be in excess of £280,000.
An anticipated operating margin of around 22% (31 July 2017 – 22.3%), should result in the company achieving another year of substantial earnings growth. At June 3, 2018, the Group had net bank debt of £278 million.